Mulberry Company Collected $7,000 from One of Its Customers,the Amount

Multiple Choice

Mulberry Company collected $7,000 from one of its customers,the amount owed from the previous month.How does this affect the accounting equation for Mulberry?

A) assets increase by $7,000; liabilities decrease by $7,000
B) assets increase by $7,000; assets decrease by $7,000
C) assets increase by $7,000; liabilities increase by $7,000
D) assets increase by $7,000; equity increases by $7,000